I recently came across this book The Effective Executive by Peter Drucker and I recommend all budding entrepreneurs read it thoroughly. Especially those who would be managing a fledging startup right out of school.Here are five things that Mr Drucker recommends all managers do.
- Time: To be effective is to know "where your time is spent". Time is one commodity that cannot be replaced or changed. Once lost, it is gone for good. Therefore, all managers must be careful of what they do with their time.
- Focus on results: A lot of us tend to work long hours but fail to achieve the desired results in a given amount of time. We strive to work really hard, rather than smart. We should set up goals before initiating a task. What needs to be achieved in what time. What results are expected. Once that is clear then we should execute the task.
- Build on Strengths: Get the best out of the team by making them do what they are best at. Not all of us are able to handle everything. Some of us are good managers, others are great at taking orders and executing them. For example, in a typical software house, some are excellent software engineers but fail to see the finer side of managing a large project. While others may be weak in programming, but can manage large and dispersed teams quite well. Others can handle customer relationships and clients much better. Find what is the best among your team and give them the work that they are ideally suited for.
- Keep a clear focus: Always be clear of what you want to do. Trying to do hundreds of tasks in a short span of time will not achieve desired results. Rather, you will end up behind in most of those tasks. It is better to prioritize and clearly focus on a few tasks that you can achieve in a finite amount of time. Do them and reassign the rest to others.
- Make effective decisions: Never shy away from making decisions, but weigh them before making them. Always get everyone's opinion, but make your own judgment.
